| 2020-07-16 10:09:59|
DIS, PTON… 10:09 07/16 07/16/20
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Market Perform from Outperform at Cowen with analyst Doug Creutz saying the accelerating spread of COVID-19 in the U.S. will have a "prolonged" impact on Disney's parks and film businesses. 2. Peloton (PTON) downgraded to Neutral from Buy at UBS with analyst Eric Sheridan saying he raised forward revenue estimates for both connected fitness product and subscription revenues as his industry checks point to better than expected trends for Peloton as COVID-19 stay at home measures continue to drive higher consumer adoption of at-home fitness. 3. Cisco (CSCO) downgraded to Neutral from Overweight at JPMorgan with analyst Samik Chatterjee saying he expects "limited investor enthusiasm" for the shares in the absence of visibility into a return to revenue growth amidst continuing headwinds to enterprise spending in the backdrop of an uncertain macro. 4. Aramark (ARMK) downgraded to Sector Perform from Outperform at RBC Capital with analyst Seth Weber saying he stuck with his positive stance on the stock despite the company's exposure to outbreak-impacted vertical of Education, Business & Industry, and Sports & Leisure, but COVID-19 related headwinds will be an overhang for longer than expected. 5. PNC Financial (PNC) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Brian Klock citing the Q2 miss and sees a lack of a near-term use for excess capital and revenue pressures continuing. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.